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Old March 14th 15, 08:49 PM posted to rec.skiing.alpine
Eviel Dewar
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Posts: 686
Default Where would Schattie get $10,000?

Read this:

"We received our initial funding of $10,000 through the sale of common stock to our officers and directors. Scott Abraham purchased a total of 5,000,000 shares of our common stock at $0.002 per share, 2,500,000 on January 27, 2014, and 2,500,000 shares on February 19, 2014, for a total investment of $10,000."

Where and how would Schattie Abraham ever get $10,000?? That's probably 100x as much money as he's ever seen in his life!

And then this:

"On January 7, 2015, Scott Abraham, a former officer and director of the Company, signed an agreement to transfer 5,000,000 shares of the Company's common stock to Paula Martin, the sole officer and director of the Company."

He paid $10K for the shares, then he signed them over to her!?

There's no way that Schattie would ever have $10K of his own money. And if he ever managed to, there's no way he'd ever put a sum like that at risk of loss. He's stupid, true, but he's also tightfisted. This is a guy who uses two-for-one coupons to trick other people into buying him dinner.

Here's what I think really happened. He somehow persuaded Paula Martin to LOAN him the $10K, claiming it was his own money when buying the stock. Then when he signed the shares over to her, he was effectively paying her back her money, though of course not really, because those shares are worthless now.
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